Hankotrade Review: Pros and Cons Revealed 2023

Hankotrade is the multi-asset broker that traders have been searching for. Established in 2018, this broker offers trading in CFDs, cryptocurrencies, forex, and indices, with registration by the Financial Services Authority (FSA) in Seychelles. This means traders can trust Hankotrade to provide them with the security and reliability they need to trade with confidence.

One standout feature of Hankotrade Broker is its reputation for offering some of the lowest spreads and commissions in the market. This has made Hankotrade a top choice among traders looking for a cost-effective and efficient trading experience.

Are you curious to learn more about this broker? Our comprehensive Hankotrade review will take you through all its features, services, and customer feedback. We’ll explore its trading platforms, range of instruments, account types, fees, regulations, and customer support. By the end of this review, you’ll have a clear understanding of Hankotrade’s strengths and weaknesses, and be empowered to make an informed decision on whether to trade with this broker.

Hankotrade Review Overview

Hankotrade is a forex and CFD broker that offers trading services to clients around the world. A forex broker firm established in 2018 and registered in Seychelles.

Hankotrade provides clients with access to over 100 trading instruments, including forex, commodities, indices, and cryptocurrencies, through the popular trading platforms MetaTrader 4 and MetaTrader 5.

The broker is also known for its low minimum deposit requirement, zero-commission trading, and fast withdrawal processing times.

Hankotrade-Review-Overview

⏩Broker’s NameHankotrade
✅ HeadquarteredSeychelles
⏩ Year Founded2018
✅ Regulating AuthoritiesFSA
⏩Countries not accepted for tradeUS and the UK and some countries where restrictions apply
✅Islamic accountYes
⏩Demo AccountYes
✅Institutional AccountsYes
⏩Managed AccountsYes
✅Maximum Leverage1:500
⏩Minimum Deposit$10/R160
✅Deposit OptionsBitcoin, Litecoin, Ethereum, True USD, Gemeni USD, USDC, EOS, Bitcoin cash and Z cash
⏩Withdrawal OptionsBitcoin, Litecoin, Ethereum, True USD, Gemeni USD, USDC, EOS, Bitcoin cash and Z cash
✅Platform TypesMetaTrader 4 (MT4), MT5
⏩OS CompatibilityMac, Windows, Linux, Web, Mobile Android, iPhone, iPad.
✅Languages supported on WebsiteEnglish
⏩Customer Support LanguagesEnglish
✅Customer Service Hours24/7

Hankotrade Review: Pros and Cons

Pros of Hankotrade

  • Low minimum deposit: Hankotrade requires only a $10 minimum deposit to open an STP account, making it accessible to traders with a limited budget.
  • Competitive trading conditions: Hankotrade offers zero-commission trading with tight spreads, making it an attractive option for traders who want to keep their trading costs low.
  • Variety of trading instruments: Hankotrade offers a wide selection of trading instruments, including forex, commodities, stocks, and cryptocurrencies, providing traders with numerous trading opportunities.
  • Multiple trading platforms: Hankotrade offers both MetaTrader4 and MetaTrader5, which are widely used and popular trading platforms among traders. They are available on web, desktop, and mobile applications, making it easy for traders to access the trading market anytime and anywhere.
  • Generous Deposit Bonus: New clients who open a trading account and make their first deposit are eligible for a 100% deposit bonus from Hankotrade. This bonus matches their initial deposit, doubling their trading capital. For instance, if a new client deposits $500, they will receive an additional $500 bonus, giving them a total trading capital of $1,000.
  • Efficient customer support: Hankotrade offers customer support through multiple channels, including live chat, email, and phone, and their support team is available 24/7. They have a reputation for being responsive and helpful to their clients.
  • Fast withdrawal processing: Hankotrade aims to process withdrawal requests as quickly as possible, usually within 4 to 8 hours. They also don’t charge any withdrawal fees, which is a significant advantage for traders.
  • Positive customer reviews: Many traders have shared positive experiences with Hankotrade on various credible review forums, highlighting the broker’s competitive trading conditions, efficient customer service, and fast withdrawal processing times.

Cons of Hankotrade

  • Limited regulation: While Hankotrade is regulated by the FSA of Seychelles, it is not regulated by other major financial authorities such as the FCA or ASIC.
  • Limited educational resources: Hankotrade doesn’t offer as many educational resources as some other brokers, which could be a disadvantage for beginner traders who are looking to learn more about forex trading.
  • Limited account types: Hankotrade offers only two account types, which may not be sufficient for traders who have specific requirements.
  • Limited payment options: Hankotrade offers only a limited number of payment options, which may not be convenient for some traders.
  • Limited research and analysis tools: Hankotrade’s research and analysis tools are relatively limited compared to some other brokers, which may not be ideal for traders who rely heavily on technical analysis or other research tools.

Click Here to Claim Hankotrade Bonus

How Many Account Types Does Hankotrade Offer?

Hankotrade offers a range of account types to cater to the diverse needs of traders. These include the STP Account, ECN Account, and ECN Plus Account. Additionally, the broker provides a swap-free Islamic Account that complies with Sharia law, as well as demo accounts for practice purposes. Regardless of your level of trading experience or strategy, Hankotrade has an account for everyone.

How Many Account Types Does Hankotrade Offer

1. The STP Account requires a minimum deposit of $10 and has zero commissions. The available base currencies are USD, EUR, and CAD, and spreads start from 0.7 pips. The account is available as a swap-free option for Islamic traders.

2. The ECN Account, with a minimum deposit of $100, has spreads starting from 0.0 pips, and a very competitive commission of $2 per side per $100k position size. The account is also available as a swap-free option for Islamic traders.

3. The most popular account type, the ECN Plus Account, requires a minimum deposit of $1,000 and has even lower commissions at just $1 per side per $100k position size. All the features of the ECN Account apply to this account type as well.

ECN-Plus-Account

4. For Muslim traders looking for trading practices that align with Sharia law, Hankotrade offers a swap-free Islamic account option. The account does not charge any rollover interest on overnight positions, and all other features of the account types are the same except for swap commissions.

Finally, Hankotrade also provides demo trading accounts for those who want to practice trading online with virtual funds. It’s easy and quick to open an account with Hankotrade by filling out a short form after clicking the “Register” button. You’ll receive an email with your login details, allowing you to access your account without any delays.

How to Open an Account at Hankotrade?

Click on the link: Link: 👉 100% bonus from Hankotrade to get a 100% Sign Up Bonus on your Deposit

  • Dates: All year 2023
  • Available to: All clients.
  • Bonus: 100% bonus on deposits, up to $25,000 USD bonus.
  • How to get: Open a new account and verify it, if you are a new client. Make a deposit of no less than $100 USD and request the bonus.
  • Withdrawal: Yes, after volume trading conditions have been met.
  • Other conditions: The promotion can be changed or terminated at any time without previous notice.

To open an account at Hankotrade, follow these simple steps:

  • Step 1: Visit the Hankotrade website and click on the “Register” button.
  • Step 2: Fill out the registration form with your personal details, including your name, email address, and phone number.
  • Step 3: Choose the account type that best suits your needs and trading style.
  • Step 4: Verify your identity by providing the necessary documents such as your ID card, passport, or driver’s license.
  • Step 5: Deposit funds into your trading account using one of the available payment methods.
  • Step 6: Start trading once your account is funded.

The process of opening an account is straightforward and can be completed in just a few minutes. Hankotrade also offers demo accounts, which can be used to practice trading with virtual funds and familiarize yourself with the trading platforms and services without any financial risk.

How To Make A Deposit On Hankotrade?

To make a deposit on Hankotrade, follow these steps:

  • Step 1: Log in to your Hankotrade client portal.
  • Step 2: In the side menu, click on the “Deposit” button.
  • Step 3: Select “Cryptocurrency” in the deposit menu.
  • Step 4: Fill out the payment request with your trading account ID and the cryptocurrency you want to deposit.
  • Step 5: Click on “Proceed.”
  • Step 6: The cryptocurrency wallet details should be displayed on the next screen.
  • Step 7: Use the QR code or information on the screen to complete the transaction.
  • Step 8: You can view your deposit history and transaction status within the “Deposit” section of your client dashboard.

How To Place A Trade On Hankotrade?

To place a trade on Hankotrade, follow these steps:

  1. Sign in to the client portal on the Hankotrade website.
  2. Click on the “Trading Terminals” logo to access the trading platform.
  3. Download and install the trading platform, or log in to the web-based platform.
  4. Choose an asset to trade from the “Market Watch” widget.
  5. Click on the “New Order” icon from the toolbar at the top of the screen.
  6. Input the details of your trade, including the volume and the order type (e.g., market order, limit order, stop loss, etc.).
  7. Choose any stop loss or take profit levels.
  8. Click “Buy” or “Sell” to confirm the order.

After placing your trade, you can monitor it in the “Open Positions” and “Trade History” tabs at the bottom of the screen.

Hankotrade Review: Trading Hours on Hankotrade

According to the information provided on the Hankotrade website, the trading hours are from Monday to Thursday, 24 hours a day, and until 12 pm on Fridays. It is important to note that weekend trading is not available with this broker.

Additionally, the server time zone for trading is GMT +2 during winter months and GMT +3 during summer months.

Hankotrade Transaction Cost

At Hankotrade, the cost of trading is influenced by various factors such as spreads and margins. Additionally, the fee structure for clients may differ based on their country or place of residence.

For certain trading accounts, Hankotrade charges commission fees. The standard accounts do not have any commission fee, while the ECN account charges a $2 commission fee (per side per $100k position size) and the ECN Plus account charges a $1 commission fee (per side per $100k position size).

If you opt for the ECN or ECN Plus account, spreads start from 0.0 pips. For the STP account, spreads start from 0.7 pips, and this account does not charge any commission. Moreover, Hankotrade does not levy any inactivity fees on idle accounts.

Hankotrade Review Customer Support

Hankotrade provides 24/5 customer service for day traders through various contact methods such as email, live chat, phone, and an online inquiry form. During our experience with Hankotrade, we received a prompt response within minutes through the live chat feature.

If you need to reach out to Hankotrade, here are their contact details:

  • Telephone Number: +97143325768
  • Live Chat: Available on the bottom right of all webpages
  • Email Address: [email protected]
  • Online Enquiry Form: Accessible via the ‘Contact Us’ webpage
  • Postal Address: Hankotrade LLC First Floor, First St Vincent Bank Ltd Build, James Street, Kingstown, St Vincent, and the Grenadines

Additionally, the website offers a list of frequently asked questions (FAQs) that cover various topics such as funding and withdrawing money from your account, changing leverage, and account deletion.

Conclusion Hankotrade Review

Hankotrade, established in 2018, is a reliable choice for newcomers to the forex trading industry. Its minimum deposit requirement is affordable, and its spreads and commissions are competitive.

After a comprehensive analysis of Hankotrade review ‘s features and customer feedback, we can confidently state that it is a reputable broker that provides a diverse range of trading instruments, bonuses, and commissions to enhance the trading experience.

For more information about Hankotrade’s policies and terms, you can visit their website. To gain a better understanding of this broker, you can open a demo or their STP trading account with a small deposit of $10.

Some Frequently Asked Questions About Hankotrade

Is Hankotrade a Trusted Broker?

Hankotrade is a trustworthy and dependable Forex broker that has assisted numerous traders worldwide in gaining access to the Forex market and honing their trading skills.

What Is the Minimum Deposit Required to Open an Account with Hankotrade?

Hankotrade requires a minimum deposit of $10 to open an account, which enables traders to start with an STP account. This account type offers zero-commission trading with spreads as low as 0.7 pips, making it an excellent option for traders who want to start small and gradually build their investment portfolio.

How Many Trading Platforms Does Hankotrade Offer?

Hankotrade offers two popular trading platforms, MetaTrader4 and MetaTrader5, to its clients. Both trading terminals are available in web, desktop, and mobile applications, which allows traders to trade the financial markets anytime and anywhere

MetaTrader4 is a popular choice among traders due to its excellent speed, execution, and flexibility. Meanwhile, MetaTrader5 is an advanced version of MT4 that offers a user-friendly interface, multiple technical indicators, and efficient execution of complex strategies to enhance traders’ performance.

Is Hankotrade a Regulated Broker in The United States?

Hankotrade is a licensed broker regulated by the Financial Services Authority (FSA) in Seychelles. As a regulated broker, Hankotrade follows all the rules and regulations set by the FSA, including client fund protection and anti-money laundering policies. Although Hankotrade is not regulated by financial authorities in the United States, U.S. traders can still trade with Hankotrade

How Long Does It Take for Hankotrade to Process Withdrawals?

Hankotrade aims to process withdrawal requests as quickly as possible, with most traders receiving their funds within 4 to 8 hours of making the request. Furthermore, Hankotrade does not charge any withdrawal fees on their client’s accounts, making it an attractive option for traders looking for a broker that values their money and time.

Hankotrade Customer Reviews?

Hankotrade review has received numerous positive reviews from traders on various credible review forums. The broker’s competitive trading conditions, efficient customer service, and fast withdrawal processing times have garnered praise from many traders. Additionally, the user-friendly trading platforms and diverse selection of trading instruments have also been noted as positive aspects of the broker. These positive reviews demonstrate that Hankotrade is a reliable and trustworthy broker that provides a satisfying trading experience for its clients.

The favorable reviews of Hankotrade from traders suggest that the broker is a dependable and credible provider that offers an overall satisfactory trading experience.